Piquadro keeps losses to a minimum in H1

Italy
Published:  29 November, 2022
Credit: Piquadro

Italian leather goods group Piquadro has announced its financial results for the first six months of fiscal 2022-23.

The company kept its losses down to just €0.1 million, after suffering a €1.4 million loss in the first half of the 2021-22 year.

Revenue for the first half of the year was €80.2 million, a year-on-year increase of 26%, while EBITDA was €10.2 million, an increase of approximately €1.7 million.

For the Piquadro brand alone, revenue was up by 24.8% to €35.3 million, while the Bridge brand brought in €14.9 million, up 34.3%, and Lancel recorded growth of 23.5% in the period to €30 million.

President and CEO Marco Palmieri said: “Our revenue is growing significantly for all of the group's three brands, and across all distribution channels. We are expecting to close fiscal 2022-23 with a consolidated revenue between €170 million and €175 million, and adjusted EBITDA of approximately €15 million.”

Source: Fashion Network